A: Visit a housing counselor at NeighborWorks Columbus. Owning a home requires a large investment of time, money and energy, so you should make your decision to buy a home carefully. Housing counselors certified through a HUD approved nonprofit agency provide objective advice and unbiased recommendations.

A: Get pre-approved for financing before shopping for a home. Pre-approval will help you know exactly what you can afford and find the best rates and terms in advance of the purchase. Pre-approval is different from pre-qualification, which refers to when a lender calculates how much mortgage you likely can afford based on unverified information. A pre-approval is a guarantee that the lender will loan you a fixed amount of money, as long as the property appraises over the amount for which you are qualified and you buy within a certain time period. There may be a fee for pre-approval, but it helps you shop for a home with confidence by knowing how much you can afford based on your finances and credit.

A: The down payment is the amount of cash you pay toward the purchase price. Closing costs are expenses over and above the purchase price of a home that you incur by financing and transferring ownership of the home. While normally both are expected to be paid up front, there are loan programs that allow you to borrow the down payment and closing costs, or at least part of them. NeighborWorks Columbus can help you with down payment and closing costs through grant money or low-interest loans. The amount will vary for each household based on their buying power.